Friday, September 3, 2010

Closed longs to enjoy the weekend, holding QID

The currencies, Cable and Euro, have not followed SPX as expected.   However my long call on SPX

(/ES futures) was spot on.   Not sure if it has more to run.

My call on today's Jobs Report as being "not as bad as expected" and a 1.5% rally today, was pretty good.

It's time for a weekend.   From my point of view, it is quite obvious that people are just getting more and more whacked out, completely losing their senses.

It is very interesting to observe this mass social psychosis, as an observer with "skin in the game".

Astro was implying a SPX run to 1105, and a blog reader emailed in this chart of the Russell.
The overthrow looks perfect, the Astro is completed, but currencies seems to still have legs.

Tim Knight closed the last of his short positions yesterday....the perfect wave 2, tiring out bears by time and price, with a final push up to make even the most strident bear capitulate.   PS holding QID from 17.8, but now that my ES futures long "hedge" is gone, The QID could stress me out if market continues higher next week.

This is odd. 

But here is the scary part for bears...EWI released a new monthly Financial forecast.   Of course they are predicting imminent doom, and we all know how the MM's HBB games EWI, ramping against there calls to take money from the bears.

Think of it, how many retail, buy and hold type, long only type, are still playing this market after being whipsawed around for a whole year.   Almost none.   The only source of fresh money for HBB is to game the bears, who are committed as "smart observers" who realize the horrific fundamentals that this country and the whole world face. 

1 comment:

  1. Cable is going to have to get it in gear soon, or it will miss my ellipse target....time will tell.


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